Henrik Rye is a wise man. Not just because he’s built an internationally recognised watch brand from scratch in just over five years, but because he left the world of finance to do it.
The chances are, if you’re reading squaremile.com, you’ve worked in or around the financial services for a while – and that you’ve thought about escaping in the past.
But does your exit plan include hanging out with Erling Haaland as well as working with the Norwegian Special Forces?
We catch up with Rye to learn about how he swapped corporate finance for independent watchmaking…
SM: Which company did you work for in your finance days – and what was your role?
HR: I worked in corporate finance at Nordea. I was involved in various financial projects, with one of the most notable being the IPO of Statoil Fuel & Retail.
My role primarily focused on dealing with private investors, which gave me insight into both the financial markets and the personal side of investing.
SM: What lessons did you learn?
HR: The financial world often seems to revolve around numbers, but my key takeaway was that personal interactions and the trust you build are what really drives success. It’s something I’ve carried over into Micromilspec – our watches are deeply personal.
SM: Why did you decide to move on?
HR: The turning point came in 2011 when I was in Japan during the earthquake. I found myself stuck for several days, sleeping in hotel lobbies and cinemas. The experience changed my perspective. When I got back home, I felt restless and out of place, expecting it to pass, but it didn’t. I had a growing need to regain control, so I knew I had to make a real change. That’s when my entrepreneurial journey began.
SM: The genesis of Micromilspec was somewhat serendipitous. Can you talk us through the start of the business?
HR: It started in the most unexpected way. One of our co-founders, who was in the military, had tried reaching out to big watch brands to design a custom watch for his unit. The responses were lukewarm at best – either no answer, or the customisation options were extremely limited and very expensive.
That’s when we started thinking: what if we could do this ourselves? No restrictions, no limits. We pooled our knowledge and decided to dive in headfirst.
SM: What was the first watch Micromilspec made?
HR: Our first project was with the 330 Squadron of the Royal Norwegian Air Force. They wanted a timepiece to commemorate the end of service for their Westland Sea King helicopters.
We embedded subtle nods to the squadron’s history in the design – everything from the silhouette of the Sea King on the dial to patterns referencing the helicopter’s rescue missions. The torque instrument from the cockpit was even incorporated into the dial ring. It was our first truly custom, meaningful design.
SM: You’ve made watches for multiple squadrons and specialist units – can you give us some highlights?
HR: We’ve been lucky to work with some elite units, and I hope that, one day, these watches end up on the second-hand market so we can actually talk about them. There are so many stories behind these designs that the public might never hear.
SM: What was the most difficult commission to execute?
HR: The Hercules. Initially, the manufacturing and R&D seemed straightforward, but infusing the sapphire, bezel, and sandwich dial with lume turned out to be a nightmare.
We had to develop three different types of lume applications and use three different shades of green lume. After working for a year to match everything in the same colour, we assembled it, only to find the elements bleeding into each other.
We had to go back and rework the colours right at the finish line. Now, it stands as one of our most popular models.
SM: In planning these watches, have you been anywhere particularly exciting?
HR: Oh, we’ve been all over. One of the most memorable places was far up north in Norway, where there’s no daylight during winter. It felt almost otherworldly.
We’ve also had some wild experiences, like flying in helicopters and participating in military exercises. We did, however, turn down an invitation to be “kidnapped” during a two-day exercise.
Soon, we’ll be heading out with the Hercules squadron and meeting up with the US Space Force at their base. We’ve definitely had our fair share of James Bond moments!
SM: Talk us through your watch movements – and the partnerships you’ve forged in this area.
HR: We’ve established strong partnerships with some of the top experts and manufacturers in Switzerland. One highlight was working with Vaucher on a custom timepiece, featuring their very first Viking rotor. We’re also excited about our upcoming release with La Joux-Perret (LJP) for the Milgraph movement.
Additionally, we collaborate directly with Sellita, where we’ve had the privilege of adding our signature fingerprint rotor
SM: How did you land Erling Haaland?
HR: Let’s just say that a happy customer is your best marketing. Word of mouth travels fast in Norway. Haaland is really into watches, and Micromilspec being Norwegian seemed like a natural fit.
SM: What requests did he have?
HR: He wanted something that was truly his own. Much of what we discussed centred around personalisation and subtle nods to his career.
SM: What’s been the biggest challenge of scaling your business to ‘civilian’ watches?
HR: It’s all about keeping integrity. Our DNA is rooted in making highly personal, purpose-driven watches for elite units. Transitioning to a broader market means we have to maintain that sense of exclusivity and authenticity while opening up to collectors. We’ve been deliberate in keeping our production numbers low.
SM: Tell us about The Milgraph.
HR: The Milgraph is the culmination of more than 40 custom military projects. It was originally developed for Special Operations Forces, and now we’re offering an evolved version to the public in very limited numbers.
The swapped crown position is a key feature, minimising wear and wrist injuries (for those extra-motivated users). It’s designed for ease of use in the field, even when fully kitted up.
SM: What’s next for the brand?
HR: We’re beginning to bridge the gap from being an online-only business to offering a physical brand experience. There’s a huge gap in the market at our price point – the ‘bread and butter’ segment for tool watches.
Most major watch brands have doubled their prices in recent years, leaving a large group of potential customers behind. Building traction and momentum in this space is our next big step.
SM: Where would you like to see Micromilspec in, say, 20 years’ time?
HR: I would love to see us become a household name in the watch world, built on authenticity and real stories behind our creations. But I also want us to remain a brand that values personal connections and individuality.
If we can achieve that balance between growth and staying true to our roots, I’ll be very happy. And of course, maintaining our price point – I don’t believe in the gold rush that’s dominated the industry over the last three-to-four years.
See more at micromilspec.com
